ISLAMABAD (our reporter) :- The Federal Minister for Industries and Production, Syed Murtaza Mehmood has urged to auto industry to reduce vehicle rate due to depreciated of US$ against Pakistan Rupee.

He was chaired meeting of Auto Industry Development and Export Policy(AIDEP) held on Tuesday. The meeting covered vast agenda of policy making, price reduction, export promotion, enhancement of localisation and import.

The meeting was attended by leading vehicle manufacturers, part suppliers, government officials and representatives from consumers.

In view of decline in US dollar vis-a-vis Pak Rupee, the minister advised the OEMs to reduce prices of vehicles.

He appreciated Indus Motor Company for price reduction and urged other companies to follow their footsteps.

As a result Pak Suzuki Motor Company has also announced price reduction, which will force other OEMs to consider providing vehicles to customers with reduced price tag.

The Minister appreciated CEO EDB for efforts to facilitate investment in latest technologies including hybrids and electric vehicles and ensured continuous support to local manufacturing industry which is providing jobs to thousands of workers including engineers, technicians, skill and semi skilled professionals

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